Editas Medicine Inc (EDIT) Holdings Boosted by Northern Trust Corp

Northern Trust Corp raised its position in Editas Medicine Inc (NASDAQ:EDIT) by 24.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 522,762 shares of the company’s stock after buying an additional 102,901 shares during the quarter. Northern Trust Corp’s holdings in Editas Medicine were worth $18,732,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Editas Medicine by 20.7% during the 2nd quarter. BlackRock Inc. now owns 3,455,066 shares of the company’s stock valued at $123,796,000 after purchasing an additional 591,442 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of Editas Medicine by 34.6% during the 2nd quarter. ARK Investment Management LLC now owns 2,181,572 shares of the company’s stock valued at $78,166,000 after purchasing an additional 561,364 shares during the last quarter. Morgan Stanley grew its holdings in shares of Editas Medicine by 9.9% during the 2nd quarter. Morgan Stanley now owns 2,069,280 shares of the company’s stock valued at $74,142,000 after purchasing an additional 186,018 shares during the last quarter. Global Thematic Partners LLC grew its holdings in shares of Editas Medicine by 7.0% during the 2nd quarter. Global Thematic Partners LLC now owns 506,917 shares of the company’s stock valued at $18,164,000 after purchasing an additional 32,968 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. grew its holdings in shares of Editas Medicine by 13.9% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 448,148 shares of the company’s stock valued at $16,057,000 after purchasing an additional 54,850 shares during the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Editas Medicine stock opened at $25.33 on Thursday. The company has a market cap of $1.24 billion, a P/E ratio of -8.50 and a beta of 3.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 14.50 and a current ratio of 14.50. Editas Medicine Inc has a 1 year low of $20.29 and a 1 year high of $45.02.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Monday, August 6th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.15). Editas Medicine had a negative return on equity of 61.27% and a negative net margin of 623.35%. The business had revenue of $7.37 million for the quarter, compared to analyst estimates of $7.01 million. During the same quarter in the prior year, the business earned ($0.65) earnings per share. The firm’s quarterly revenue was up 137.7% on a year-over-year basis. Equities research analysts forecast that Editas Medicine Inc will post -3 EPS for the current year.

In related news, CTO Vickesh Myer sold 4,000 shares of Editas Medicine stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $29.44, for a total transaction of $117,760.00. Following the sale, the chief technology officer now directly owns 3,000 shares in the company, valued at approximately $88,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew A. F. Hack sold 6,000 shares of Editas Medicine stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $25.70, for a total transaction of $154,200.00. Following the sale, the chief financial officer now owns 6,000 shares in the company, valued at $154,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,000 shares of company stock worth $2,278,800. 5.20% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on EDIT. Guggenheim began coverage on shares of Editas Medicine in a report on Tuesday, October 9th. They set a “neutral” rating on the stock. BidaskClub lowered shares of Editas Medicine from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Raymond James began coverage on shares of Editas Medicine in a report on Friday, September 21st. They set an “outperform” rating and a $40.00 price target on the stock. Zacks Investment Research lowered shares of Editas Medicine from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Finally, JPMorgan Chase & Co. set a $36.00 price target on shares of Editas Medicine and gave the company a “hold” rating in a report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Editas Medicine presently has a consensus rating of “Hold” and an average target price of $46.50.

Editas Medicine Profile

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

See Also: Earnings Per Share (EPS)

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Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

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